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PBOC sets USD/ CNY reference rate for today at 7.0904 (vs. estimate at 7.0918)

PBOC sets USD/ CNY reference rate for today at 7.0904 (vs. estimate at 7.0918)
People's Bank of China set the onshore yuan (CNY) reference rate for the trading session ahead.USD/CNY is the onshore yuan. Its permitted to trade plus or minus 2% from this daily reference rate.CNH is the offshore yuan. USD /CNH has no restrictions on its trading range.A significantly stronger or weaker rate than expected is typically considered a signal from the PBOC.The previous close was 7.0960PBOC injects 2bn yuan in open market operations (OMOs) via 7-day reverse repos (RRs) at an unchange... Read More
Posted: Jun 5 2023, 01:15
Author Name: forexlive
Views: 102212

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